Sensex rallies 612 points, Nifty ends above 15,100

Stock market indices, Sensex and Nifty ended higher Tuesday led by strong gains in auto, IT and metal stocks amid positive global cues. 

Midcap and smallcap indices ended over 1.5 per cent each. Selling was seen in PSU Bank, FMCG and pharma indices. 

At the closing bell, the 30-share BSE index was quoted 612.60 points or 1.24 per cent higher at 50,193.33.

Similarly, the broader NSE Nifty went past the psychological 15,000-level and closed 184.95 points or 1.24 per cent higher at 15,108.10.

M&M was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.

Bharti Airtel, ITC, Dr Reddy's and SBI were the laggards.

"Domestic equities extended gains as an early sign of decline in COVID-19 daily caseload and improving prospects of faster economic recovery emboldened investors," said Binod Modi, Head Strategy at Reliance Securities.

Strong cues from Asian markets also supported the rally, he added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note.

Stock exchanges in Europe were also trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.82 per cent higher at USD 70.03 per barrel.

(With inputs from agencies)